Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework

著者 :
  • Princeton Univ Pr
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  • ・洋書 (203ページ)
  • / ISBN・EAN: 9780691133164


The New Keynesian framework has emerged as the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. It is the backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, and provides the theoretical underpinnings of the inflation stability-oriented strategies adopted by most central banks throughout the industrialized world. This graduate-level textbook provides an introduction to the New Keynesian framework and its applications to monetary policy. Using a canonical version of the New Keynesian model as a reference framework, Jordi Gali explores issues pertaining to the design of monetary policy, including the determination of the optimal monetary policy and the desirability of simple policy rules. He analyzes several extensions of the baseline model, allowing for cost-push shocks, nominal wage rigidities, and open economy factors. In each case, the implications for monetary policy are addressed, with a special emphasis on the desirability of inflation targeting policies.
The most up-to-date and accessible introduction to the New Keynesian framework available Uses a single benchmark model throughout Concise and easy to use Includes exercises An ideal resource for graduate students, researchers, and market analysts


  • NKモデル入門の定番。
    関数形を特定し、単一モデル(第2章 A New Classical Model)から順次拡張して展開。
    準備としては、対数線形近似に慣れておく必要あり。Gali先生の対数線形近似の表記は若干特殊。 2.5.2 は、ごりごり計算するので最初は飛ばしても良い。

  • ◎「日本経済復活 一番かんたんな方法」(勝間和代/光文社新書/2010)で紹介

  • ニューケインジアン経済学をコンパクトに解説している。基本的なコンセプトを解説した後、粘着的価格・粘着的賃金などの摩擦を段階を追って解説している。加藤涼さんの本と似たようなテイストを感じる。Monetary Economicsを専攻したい人は、この本の後にWoodfordに進む必要があると思う。

  • マクロ金融政策の新たなテキストブックとなっています.

  • I

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